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sEC. 301 OF cOMPANIES aCT

Sumit (Service) (55 Points)

06 September 2007

Is Director of the company covered under section 301 of companies act'1956

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7 Replies

Ahmed (CA student) (1105 Points)
Replied 06 September 2007

yes

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Ahmed (CA student) (1105 Points)
Replied 06 September 2007

according to me

Ramanathan (Article Assistant) (135 Points)
Replied 07 September 2007

Sec 301 apliest to all contracts or arrangements to which section 297 or section 299 applies Sec 297 covers directors Therefore 301 Register shall record transactions with directors

swati (ca) (82 Points)
Replied 23 September 2007

301 covers the "register of contract,companies and firms in which directors are interested."

Srinath A. N. (Officer - Legal) (283 Points)
Replied 18 October 2007

There is difference in Section 297 & 299. Sec.299 is applicable to all companies, hoever Sec.297 applicable only Companies having paidup capital of not less than Rs.1 Crore. Section 297 requires approval of Board/Central Govt. Sec.299 states only disclosure. In the Statutory register there is a option for entering general disclosure of interest stated in Form 24AA.

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Rahul (Company Secretary & Manager-Legal) (216 Points)
Replied 07 March 2008

Sec. 297 is applicable to all companies..be it Public or Private. CG (Reg. Director) approval is required u/s 297 only when Paid-up capital is rs. 1 crore or more..